Budget Overview
The development of a school district's budget is a long-range process. There are several steps, and the individuals involved in this process need to be vigilant as new information coming to the school district will often impact the district's overall budget and local levy amounts.
The Budget Report is filed in the Wisconsin School Finance Portal (WiSFiP), formerly SAFR PI-1504, and allows districts and LEAs to review Budget data submitted via the WISEdata Finance portal. Using the district's designated school financial software, the budget is uploaded to WISEdata Finance and can be read in WiSFiP. Note: To review budget data, you must be a District Data Administrator within the WiSFiP portal.
Below are the general steps taken to prepare and adopt a district budget. Details of the process broken down into seven distinct steps can be found on the Budget and Adoption Process page of the DPI Website.
- Step #1 - Develop a Proposed Budget
- Step #2 - Host a Budget Hearing
- Step #3 - Hold an Annual Meeting
- Step #4 - Adopt an Original Budget
- Step #5 - Set the Levy and a Sufficient Tax Amount
- Step #6 - Complete the PI-401 Tax Levy Report and the PI-1508 Tax Levy Certification for Municipalities
- Step #7 - Approve any Budget Changes/Amendments
Additional Budget Planning Resources
Spending Authority
Per s. 120.13(33) during the period between July 1 and the final adoption of a budget by the school board after the budget hearing under s.65.90, spend money as needed to meet the immediate expenses of operating and maintaining the public instruction in the school district.
Workbooks
The PI 65.90 Blank and Executable Workbooks for Budget Adoption (Wis Stat § 65.90) provides individual sheets that contain the recommended school district budget adoption format and required budget publishing format. Also included are budget related public notices, formats for budget changes, and an explanation of budget adoption requirements.
The Preparation Workbook is a series of Excel spreadsheet exercises designed to help districts pass the edits of the Budget Report program. Use of the workbook is optional.
Budget Report
The Budget Report is filed and certified in WiSFiP.
Budget Development and Planning Process
The development and planning of a school district’s budget is a long-range process that typically consists of seven distinct steps. Here you will find typical steps on developing a proposed budget, hosting a budget hearing, holding an annual meeting, adopting an original budget, setting the levy and a sufficient tax amount, completing the PI-401 Tax Levy Report and the PI-1508 Tax Levy Certification for municipalities, and approving any budget amendments to the original budget that may occur throughout the school year.
Budget Timelines
After a district's budget has undergone is planning and development stage, it must be presented at a budget hearing and approved at the annual meeting prior to its adoption. The Department of Public Instruction has provided a general timeline is outline to assist districts in the timeliness of their budget process.
Budget Changes/Amendments
The annual original budget provides the best estimates at the time of adoption of the resources and costs of the activities of the school district for the ensuing months of the school year. As the year progresses, there may be a need to change appropriations and purposes. Such budget changes/amendments to the original budget can range from minor to significant and must be handled appropriately.
SFS Executable Worksheets
The SFS Executable Worksheets are Microsoft Excel files containing pre-written formulas that calculate school finance computations such as Equalization Aid, Revenue Limit, and Transportation. District users may enter their specific data elements and the worksheet computes the results.
School Fees
The Wisconsin Constitution, Art. X, sec. 3 limits the school district's authority to assess school fees except under limited circumstances. Therefore, great care must be taken to ensure that any user fees are legally authorized. Visit the School Fees page on the DPI Website to learn more about the authority to assess school fees and its limitations.
Longitudinal Data History and Shared Cost Comparison
View the historical longitudinal data page to assist in projecting future formula factors. Before final submission, districts will view a shared cost comparison. Shared cost generated in the Budget Report will be compared to the district's shared cost used in the certification of October 15 aid eligibility. This report is designed to be a data reasonability check.
Debt Amortization Schedules
Any planned changes to the district's fiscal year debt amortization schedules--including refinancing--must be updated prior to submission of the Budget Report. The Department of Public Instruction has provided debt amortization schedule instructions as a guide for updating the portal.
60 and 70 Fund Series
The 60 (Agency) and 70 (Trust Funds) series funds are fiduciary funds. Presentation of these funds has been removed from the adoption and notice formats to agree with GASB 34 requirements. This change also brings the school district adoption format more into conformity with s. 65.90 requirements used for other Wisconsin governments which specify that information be presented for governmental and propriety funds but does not require it for fiduciary funds. Note that this change only pertains to 65.90 requirements. Information about the 60 and 70 fund series will continue to be provided to DPI on the Budget and Annual Reports.